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The gold commodity is a commodity that we all know would continue to be bullish in the next 50 years. This means that we should all try our very best to succeed in forex trading through investments that we could make in gold.Quote:
Originally Posted by midle
Gold has managed to hold above the previous low in 1685, creating a short-term base. Observe testing resistance at 1709. Resistance can be found in 1723 and 1732. Gold is in a secular uptrend with strong support at 1523. Monitor the strong resistance area between 1791 and 1803.
BEarish reversal appeared yesterday and today it was confirmed by LWMA cross, so gold will likely fall towards 1704.10 and may continue to 1696.00. However goled will be back in bullish if it can break 1716.90 level.
Bias is bullish in nearest term as long as price not breach below 1710 as MA 200 on chart H1,
Immediate resistance is found at 1718 area and subsequently in 1732 region.
Immediate support is seen at 1703 area, break below that area could trigger further bearish toward 1690 area.
For gold is the time to shop, the price of its correctional wave found a buyer in a green slip (support 1707) which is about the consolidation, stochastics also bent to the north, also on the hourly chart formation was 2 lower fractals (south go no price wants).
gold is sa good pair ma na gold ma trade ki ha 4 bar aur muje gold ma acha profat mila ha ma bohat
happy ho gold ki market kafi taze rahi i like gold pair.
The Gold was up today because the market participants expected positive results of the Federal Reserve meeting this week in terms of continuation of the soft policy. The February futures price rose to 1717.80 dollars per ounce on COMEX today.
Of gold can be seen on the daily chart the upward channel, a few days ago there was a rebound from the bottom of the channel and now the price is beginning to form a new wave of northern, while sales can forget about, capacity above 1700 figures gave more additional signals to the north, waiting for my entry point purchase.
Gold which increased to 1717.20 now must be corrected. Finally, a newly formed downtrend line and block the increase. Trend line is now located at 1712.93. If the trend line continues to put a halt to rising intraday, then gold prices could decline further to 1703.00 support area.
Bias is neutral in nearest term as market still wait FOMC decisions, immediate resistance is seen at 1715 area,
a clear break above that area could trigger further bullish targeting 1728 area.
Immediate support is found at 1695 area, a clear break below that area should trigger further bearish aiming 1685 region.